MOP 6.00
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| Anti-corruption policy prolonging VIP crisis in Macau Page 4
Gaming revenues drop for fifth month
Number 660 Wednesday November 5, 2014
Publisher: Paulo A. Azevedo
Closing editor: Sara Farr
HSBC profits up in Q3
I
t’s worse than feared. Macau casinos raked in MOP28 billion (US$3.5 billion) in October. A whopping 23.2 percent less than a year ago. The biggest drop since the financial crisis. And the fifth straight month of decelerating growth. One redeeming feature is that October 2013 was the second-best month ever for the gaming industry. Nevertheless, the portents for November and December remain poor
Year III
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Wide gap
HSI - Movers November 4
Name
Income disparity is widening. Construction workers’ salaries have increased considerably since 2010. But while locals are earning 21.7 percent more, non-residents’ salaries deflated. In Q3, a gaping 54 percent separated them. The disparity for those holding a specialised post has reached a staggering 75 percent
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6
%Day
COSCO Pacific Ltd
2.32
China Merchants Hold
2.22
China Shenhua Energy
1.17
Hong Kong Exchanges
1.17
Bank of Communicatio
1.04
Cheung Kong Holdings
-1.67
Wharf Holdings Ltd/T
-1.86
Want Want China Hol
-2.33
Galaxy Entertainment
-2.78
Sands China Ltd
-3.31
Source: Bloomberg
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www.macaubusinessdaily.com
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Pizza Express in no great hurry
Mixing politics with profits
Pizza Express is on the way. Expansion plans for China include Macau. Hong Kong MD Justin Kennedy says the British restaurant chain is currently searching for the right site. But will not rush into the market. The chain operates in Europe, the Middle East and Asia. First impressions are important, he says, “to amaze the city”
The principal Shanghai and Hong Kong Stock Exchange authorities say it’s a go. Everything’s ready to start trading through the link. China’s leaders, however, remain silent. HKSAR CE CY Leung says “soon”. Meanwhile, markets are harvesting losses. Fingers are pointed at the unstable environment
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